Taking the Credit — ECB pressure has private lending on high alert
- Fabian Graber
Ops, the European Central Bank did it again. Elizabeth McCaul, an ECB supervisory board member, has warned this week of “caution lights in front of us” caused by the non-bank financing space in Europe, in an interview with the Financial Times. The fast growth of this sector – which has assets of around €42.90trn in the EU versus €38trn controlled by banks – was “something that always worries us”, McCaul was quoted saying.